BMW surpassed Tesla in European EV sales, selling 14,869 BEV cars in July.
Key Highlights:
In a notable shift, BMW emerged as the top seller in the European battery electric vehicle (BEV) market, surpassing Tesla, as reported by market research firm JATO Dynamics. BMW sold 14,869 BEV cars in July, edging out Tesla by approximately 300 units. This data highlights the success of established automakers in the BEV market, reflecting the impact of government policies and brand loyalty on the sector previously dominated by pure electric-vehicle manufacturers.
“The lack of clarity around the incentives for – and future of – EVs continues to present a barrier to consumers considering an EV. These factors, alongside the low residual value of EVs contributed to the decline seen in July,” said Felipe Munoz, Global Analyst at JATO Dynamics, referring to a drop in total EV sales.
The most valuable automaker in the world, Tesla, continues to maintain its dominant position in the market. However, traditional automakers like BMW and Volvo are making notable progress, partly due to the uncertainties surrounding EV subsidies and incentives.
There have been reports suggesting that CEO Elon Musk’s controversial public image has impacted public perception of Tesla.
BMW recently announced a 35% increase in sales compared to the previous year, whereas Tesla experienced a 16% decrease in registrations during the same period.
In the previous month, there were 139,300 new electric car registrations, marking a 6% decrease from July 2023. The report indicates that the market share of electric vehicles (EVs) declined to 13.5% from 14.6% compared to the previous year.
It’s interesting to see BMW surpassing Tesla in European EV sales for the first time. This shows that traditional automakers are making significant progress in the EV market. It’s also clear that there are challenges and uncertainties affecting the EV sector, such as incentives and consumer perception.ELCTRIK Speaks
